Car insurance prices in Saudi Arabia have gone up 400 percent as motorists and vehicle owners have called upon authorities to bring down charges to affordable levels. Talal Al-Batti, an insurance expert, said road works across the country have contributed to increasing accidents. “It has also affected smooth flow of...
A meeting held by the Ministerial Development Council recently discussed drafting a federal law amending Federal Law No. 11 of 1992 concerning civil procedures, and reviewed a proposal to form a committee that would conduct a study and a draft law for insurance against unemployment, which aims to promote Emiratisation...
The Bahrain Bourse and Al Ahlia Insurance Company recently signed an agreement to assign the former as a share registrar for the shares of the company. The agreement was signed by BHB CEO Shaikh Khalifa bin Ebrahim Al-Khalifa and Mr. Fadi Al Khatib, GM of Al Ahlia Insurance Company. According...
The Judicial and Legal Studies Institute (JLSI) signed an agreement with the Bahrain Institute of Banking and Finance (BIBF) to provide training for the Supreme Judicial Consul’s newly appointed Commercial Court Judges. The agreement was signed by JLSI’s director Dr. Ramzan Abdulla Alnoaimi and BIBF’s deputy director Dr. Ahmed Abdul...
Omani insurance companies are expected to achieve a 10-11 percent growth in gross premium revenue this year, a top-level official of a leading insurance firm has said. Gross direct premium of insurance firms in Oman grew by 11 percent to OMR442 million in 2015. Motor insurance, both comprehensive and third...
Umrah and Haj pilgrims may also have to pay the premium for mandatory health insurance. The Council of Cooperative Health Insurance (CCHI) is studying the possibility of including pilgrims in the insurance scheme, CCHI secretary general Muhammad Al-Husain told Saudi Gazette. The Council of Ministers’ decision issued on March 3,...
Owners of hospitals and polyclinics have certain reservations about their dealings with insurance companies and have approached the Council of Cooperative Health Insurance (CCHI) in this regard. The first problem, said Nasir Al-Zahim, head of the health services committee at the Jeddah Chamber of Commerce and Industry (JCCI), is that...
Attijariwafa Bank (AWB) sold part of Wafa Assurance to the National Investment Company (SNI) to fund international expansion, according to a new report by Medias24. Wafa Assurance is the leading insurance company in Morocco with 21 percent market share. SNI – owned by the Moroccan royal family – controlled 48...
Asset management firms are disappointed about their need to rely on private insurance funds and portfolios for generating revenues to help them transition through the difficulties of the current period. A number of investment managers have confirmed that the owners of private insurance portfolios and funds preferred hiring full-time...
Axco Insurance Information Services (Axco), a provider of business intelligence and information services to the insurance industry, has announced its foray into the Middle East and North Africa (MENA) market in partnership with the Dubai-based RefPoint Business Consultants. UK based Axco, has been providing country and region-specific critical information services...
